Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Average Recommendation of “Moderate Buy” by Brokerages

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $81.50.

A number of research firms have commented on TECX. Truist Financial decreased their target price on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a report on Monday, October 20th. They set an “overweight” rating and a $101.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Aberdeen Group plc raised its position in shares of Tectonic Therapeutic by 220.6% during the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock worth $23,818,000 after acquiring an additional 785,648 shares during the last quarter. Braidwell LP acquired a new stake in Tectonic Therapeutic in the third quarter worth about $11,561,000. Citadel Advisors LLC raised its holdings in Tectonic Therapeutic by 80.8% during the 3rd quarter. Citadel Advisors LLC now owns 298,388 shares of the company’s stock worth $4,682,000 after purchasing an additional 133,342 shares during the last quarter. Geode Capital Management LLC lifted its position in Tectonic Therapeutic by 242.5% during the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock valued at $5,411,000 after purchasing an additional 192,770 shares during the period. Finally, Millennium Management LLC lifted its position in Tectonic Therapeutic by 218.0% during the 3rd quarter. Millennium Management LLC now owns 238,170 shares of the company’s stock valued at $3,737,000 after purchasing an additional 163,281 shares during the period. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Trading Down 3.6%

Shares of Tectonic Therapeutic stock opened at $18.80 on Monday. The stock has a market capitalization of $351.94 million, a price-to-earnings ratio of -4.87 and a beta of 3.72. The firm’s 50-day moving average price is $19.92 and its two-hundred day moving average price is $19.74. Tectonic Therapeutic has a 1-year low of $13.70 and a 1-year high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, November 6th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.03. As a group, equities research analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current year.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.